Starbucks (NASDAQ:SBUX) Downgraded to “Strong Sell” Rating by Dbs Bank

Starbucks (NASDAQ:SBUX) was downgraded by stock analysts at Dbs Bank from a “hold” rating to a “strong sell” rating in a research note issued on Friday,Zacks.com reports.

A number of other research analysts have also recently issued reports on SBUX. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. Sanford C. Bernstein set a $100.00 price objective on shares of Starbucks and gave the company an “outperform” rating in a research note on Thursday, October 30th. Stifel Nicolaus upped their target price on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. Finally, Wells Fargo & Company set a $100.00 price target on Starbucks and gave the stock an “overweight” rating in a report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $100.50.

Starbucks Stock Up 4.1%

NASDAQ:SBUX opened at $85.57 on Friday. The firm has a market capitalization of $97.27 billion, a price-to-earnings ratio of 52.18, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. Starbucks has a twelve month low of $75.50 and a twelve month high of $117.46. The stock’s 50 day moving average price is $83.92 and its two-hundred day moving average price is $87.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The business had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter in the prior year, the company earned $0.80 EPS. Starbucks’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, analysts anticipate that Starbucks will post 2.99 earnings per share for the current year.

Hedge Funds Weigh In On Starbucks

Several institutional investors and hedge funds have recently bought and sold shares of SBUX. Nuveen LLC purchased a new position in Starbucks during the first quarter worth about $1,379,619,000. Norges Bank bought a new position in Starbucks during the 2nd quarter valued at approximately $1,246,316,000. Jennison Associates LLC bought a new position in Starbucks during the first quarter valued at approximately $817,759,000. Polen Capital Management LLC bought a new stake in Starbucks during the first quarter valued at about $503,539,000. Finally, Corient Private Wealth LLC grew its holdings in Starbucks by 146.6% during the 2nd quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company’s stock valued at $553,201,000 after buying an additional 3,596,014 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.